Nonprofit · EIN 42-1292717
IOWA QUARTER HORSE RACING
Also known as ENTERPRISES INC
Tax-exempt · ADEL, IA 50003
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990-EZ | $124,601 | $128,502 | -$3,901 | $396,767 | $0 | $396,767 |
| December 31, 2024 | 990-EZ | $130,101 | $117,009 | $13,092 | $400,668 | $0 | $400,668 |
| December 31, 2023 | 990-EZ | $112,922 | $63,665 | $49,257 | $387,576 | – | $387,576 |
Financial details: 990-EZ for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $2,461
- Program service revenue
- $114,497
- Investment income
- $7,643
Expenses
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $14,000
- Professional fees and payments to contractors
- $40,370
- Printing, publications and postage
- $597
- Other expenses
- $73,535
Balance sheet and other
- Total assets, start of year
- $400,668
- Total assets, end of year
- $396,767
- Total liabilities, end of year
- $0
- Net assets, end of year
- $396,767
- Cash, savings and investments
- $396,197
- Gross receipts
- $124,601
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-EZ for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JIM HARVEY | DIRECTOR | 1 | $0 |
| JEFF STATE | DIRECTOR | 1 | $0 |
| JAYME MOORE | DIRECTOR | 1 | $0 |
| DAVID MOOREHEAD | DIRECTOR | 1 | $0 |
| BOB BROWN | DIRECTOR | 1 | $0 |
| BETHANY KINNEY | DIRECTOR | 1 | $0 |
| LEONARD REED | DIRECTOR | 1 | $0 |
| SHIRLEY PEIFFER | DIRECTOR | 1 | $0 |
| PAUL TONDERUM | DIRECTOR | 1 | $0 |
| DICK TOBIN | DIRECTOR | 1 | $0 |
| TOM LEPIC | PRESIDENT | 20 | $0 |
| TOM SCHECKEL | VICE PRESIDENT | 2 | $0 |
990-EZ for the year ended December 31, 2024: 12 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BUTCH HAMMER | PAST PRESIDENT | 1 | $0 |
| JIM HARVEY | DIRECTOR | 1 | $0 |
| JEFF STATE | DIRECTOR | 1 | $0 |
| ORLIN THOMAS | DIRECTOR | 1 | $0 |
| CORRINE BOCKENSTEDT | DIRECTOR | 1 | $0 |
| BOB BROWN | DIRECTOR | 1 | $0 |
| BETHANY KINNEY | DIRECTOR | 1 | $0 |
| LEONARD REED | DIRECTOR | 1 | $0 |
| SHIRLEY PEIFFER | DIRECTOR | 1 | $0 |
| TOM SCHECKEL | DIRECTOR | 1 | $0 |
| DICK TOBIN | DIRECTOR | 1 | $0 |
| TOM LEPIC | PRESIDENT | 20 | $0 |
990-EZ for the year ended December 31, 2023: 17 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TROI MULFORD | Treasurer | 20 | $8,000 |
| CHRIS HOVEY | Secretary | 20 | $6,000 |
| BUTCH HAMMER | Past President | 1 | $0 |
| BUTCH BAIN | Director | 1 | $0 |
| JIM HARVEY | Director | 1 | $0 |
| TOM LEPIC | President | 20 | $0 |
| BOB BROWN | Director | 1 | $0 |
| TERRY THORSON | Vice President | 2 | $0 |
| JOHN LAWLESS | Director | 1 | $0 |
| DICK TOBIN | Director | 1 | $0 |
| LEONARD REED | Director | 1 | $0 |
| SHIRLEY PEIFFER | Director | 1 | $0 |
| TOM SCHECKEL | Director | 1 | $0 |
| ALEX WESSELS | Director | 1 | $0 |
| ORLIN THOMAS | Director | 1 | $0 |
| CORRINE BOCKENSTEDT | Director | 1 | $0 |
| DON RAYNER | Director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 25327 SPORTSMANS CLUB RD, ADEL, IA 50003-4614
- Signed the 990-EZ
- TROI MULFORD, TREASURER
- Phone
- (515) 681-6700
- Website
- IQHRA.COM
- Return prepared by
- WELGAARD CPAS & ADVISORS
Mission
PROMOTE QUARTER HORSE BREEDING/RACING IN IOWA
Program accomplishments
- TO PROMOTE THE BREEDING AND RACING OF QUARTER HORSES IN IOWA WITH THE RACING ASSOCIATION OF CENTRAL IOWA AND SPONSORING STAKES RACES, RECOGNIZING OUTSTANDING OWNERS AND BREEDERS, AND SPONSORING A YOUTH DAYS EVENT TO PROMOTE INTEREST IN QUARTER HORSES.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990-EZ on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-EZ on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-EZ on file |
IRS record
- EIN
- 42-1292717
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 2003
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S41)
- Assets (IRS master file)
- $396,767
- Income (IRS master file)
- $124,601
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-EZ | December 2025 | $124,601 | $128,502 | $396,767 | IRS |
| 990-EZ | December 2024 | $130,101 | $117,009 | $400,668 | IRS |
| 990-EZ | December 2023 | $112,922 | $63,665 | $387,576 | XML |
| 990-EZ | December 2022 | – | – | – | IRS |
| 990-EZ | December 2021 | – | – | – | IRS |
| 990-EZ | December 2020 | – | – | – | IRS |
| 990-EZ | December 2019 | – | – | – | IRS |
| 990-EZ | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 42-1292717).
Questions about IOWA QUARTER HORSE RACING
- What is the EIN of IOWA QUARTER HORSE RACING?
- The employer identification number (EIN) of IOWA QUARTER HORSE RACING is 42-1292717.
- Is IOWA QUARTER HORSE RACING tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 2003.
- Are donations to IOWA QUARTER HORSE RACING tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does IOWA QUARTER HORSE RACING file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of IOWA QUARTER HORSE RACING due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did IOWA QUARTER HORSE RACING last file with the IRS?
- The latest return in the IRS public files is the 990-EZ for the year ended December 2025.
- Who are the officers and directors of IOWA QUARTER HORSE RACING?
- The 990-EZ for the year ended December 31, 2025 lists 12 people; 0 received compensation from the organization.
- How much revenue does IOWA QUARTER HORSE RACING have?
- On its 990-EZ for the year ended December 31, 2025 it reported revenue of $124,601, expenses of $128,502 and total assets of $396,767 at year end.
Other nonprofits in ADEL
- MAIN STREET ADEL CHAMBER OF COMMERCE INC EIN 42-1385860 · last filed 990 for 2025
- ADEL IOWA KIWANIS CLUB INC EIN 84-4423520 · last filed 990-N for 2024
- CRISIS INTERVENTION & ADVOCACY CENTER EIN 42-1372343 · last filed 990 for 2025
- CENTRAL IOWA FARM BUSINESS ASSN EIN 42-0790102 · last filed 990 for 2025
- STINE FAMILY FOUNDATION EIN 42-1497513 · last filed 990-PF for 2026
- HILLCREST COUNTRY CLUB OF DALLAS COUNTY IOWA EIN 42-0789285 · last filed 990 for 2025
- DALLAS COUNTY FAIR ASSOCIATION EIN 42-6075466 · last filed 990 for 2025
- MONTANA LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION EIN 81-0360771 · last filed 990 for 2025
All nonprofits in ADEL · Iowa · Community improvement and capacity building